Brady and Carbahal Elected to Lead the Board of First Northern Community Bancorp

Rhea-AI Summary

First Northern Community Bancorp (OTC-PINK: FNRN) announced new leadership at its 2022 Organization Meeting. Patrick R. Brady was elected Chairman for a two-year term, while John M. Carbahal was elected Vice Chairman for one year. Both leaders have extensive experience with the bank, with Brady joining its Board in 2013 and Carbahal serving since 1996. Their governance roles center around enhancing financial management and corporate governance strategies, leveraging their prior experience in healthcare and accountancy.

Positive

• Patrick R. Brady and John M. Carbahal bring over 35 years of directorship experience to their new leadership roles.
• Brady's experience as a former CEO in healthcare provides valuable insights into financial management.

Negative

• There are no significant negative factors reported in the press release.

DIXON, Calif.--(BUSINESS WIRE)-- First Northern Community Bancorp (OTCQB: FNRN), holding company for First Northern Bank, announced that Patrick R. Brady was elected to a two-year term as Chairman and John M. Carbahal was elected to a one-year term as Vice Chairman at its recent 2022 Organization Meeting of the Board of Directors. Together, Brady and Carbahal bring over 35 years of First Northern directorship experience to their leadership positions.

Patrick R. Brady, Chairman (Photo: Business Wire)

Patrick (Pat) Brady joined First Northern’s Board of Directors in 2013 and served as Vice Chairman of the Board from 2021 to 2022. He currently serves on the Bank’s Loan, Compensation, and Profit-Sharing Committees. He also serves as Chairman of the Bank’s Nominating & Corporate Governance Committee.

Mr. Brady retired as Chief Executive Officer of Sutter Roseville Medical Center in 2018. He had been involved with Sutter since 1981. Mr. Brady served as the Chief Executive Officer of Sutter Solano Medical Center (SSMC) for approximately six and a half years. Prior to SSMC, he served in a variety of executive level positions with Sutter Health in the greater Sacramento Area and in hospital management in Los Angeles, California, and Tucson, Arizona.

Mr. Brady has a Bachelor of Science degree in Public Administration from the University of Arizona and a Master’s degree in Hospital Administration from the University of Minnesota. His professional activities include leadership roles in healthcare associations and advocacy groups. He has participated actively in local and regional affairs through a variety of community boards. Mr. Brady’s service on boards both in the private and public sectors, and experience as a Chief Executive Officer, have provided him with extensive knowledge and experience in financial management, corporate governance, and risk management.

John M. Carbahal has served on the Board since July 1996. He served as Chairman of the Board from 2013 until 2016. He currently serves on the Bank’s Loan, Nominating & Corporate Governance, and Asset/Liability Committees. He also serves as Chairman of the Bank’s Audit Committee.

Carbahal is a Certified Public Accountant and since 1984 has been a principal and shareholder of Carbahal & Company, Inc., an Accountancy Corporation. Mr. Carbahal received his undergraduate degree in Business Administration - Accounting from California State University, Chico, and his Master of Business Administration from Golden Gate University. He is currently a member of the American Institute of Certified Public Accountants, as well as the California Society of Certified Public Accountants.

Carbahal is very involved in the community as a member of the Winters Rotary Club. He is a past board member of the Yolo County Land Trust, and past president of the Winters Rotary Club and the Yolo County Chamber of Commerce.

First Northern’s other Directors, and the year in which they joined the Board are: Gregory DuPratt – 1996, Barbara Hayes – 2016, Foy S. McNaughton – 2000, Richard M. Martinez – 2011, Sean P. Quinn – 2016, Daniel F. Ramos, - 2020, Mark Schulze – 2017, and Louise A. Walker – 2011.

About First Northern Bank

First Northern Bank is an independent community bank that specializes in relationship banking. The Bank, headquartered in Solano County since 1910, serves Solano, Yolo, Sacramento, Placer, and Contra Costa Counties, as well as the west slope of El Dorado County. Experts are available in small-business, commercial, real estate and agribusiness lending, as well as mortgage loans. The Bank is an SBA Preferred Lender. Non-FDIC insured Investment and Brokerage Services are available at every branch location, including Dixon, Davis, West Sacramento, Fairfield, Vacaville, Winters, Woodland, Sacramento, Roseville, Auburn, and Rancho Cordova. The Bank also has a commercial lending office in Walnut Creek. Real estate mortgage and small-business loan officers are available by appointment in any of the Bank’s 11 branches. First Northern is rated as a Veribanc “Blue Ribbon” Bank and a “5-Star Superior” Bank by Bauer Financial for the earnings period ended December 31, 2021 (www.veribanc.com) and (www.bauerfinancial.com). The Bank can be found on the Web at thatsmybank.com, on Facebook and on LinkedIn.

Forward-Looking Statements

This press release may include certain “forward-looking statements” about First Northern Community Bancorp and its subsidiaries (the “Company”). These forward-looking statements are based on management’s current expectations, including but not limited to statements about market conditions and current expectations about strategic focus and competitive advantages, and are subject to certain risks, uncertainties and changes in circumstances. Actual results may differ materially from these expectations due to changes in global political, economic, business, competitive, market and regulatory factors. More detailed information about these risk factors is contained in the Company’s most recent reports filed with the Securities and Exchange Commission on Forms 10-K and 10-Q, each as it may be amended from time to time, which identify important risk factors that could cause actual results to differ materially from those contained in the forward-looking statements. The financial information contained in this release should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s most recent reports on Form 10-K and Form 10-Q, and any reports on Form 8-K. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances arising after the date on which they are made. For further information regarding the Company, please read the Company’s reports filed with the SEC and available at www.sec.gov.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220526005753/en/

Kimberly A. DeBra

EVP/Chief Communications Officer

FIRST NORTHERN BANK

P.O. Box 547

Dixon, California

(707) 678-3041

Source: First Northern Community Bancorp

FAQ

Who was elected Chairman of First Northern Community Bancorp in 2022?

Patrick R. Brady was elected Chairman for a two-year term.

What experience does Patrick R. Brady have?

He has extensive experience as a former CEO in healthcare and has been on the Board since 2013.

Who is the new Vice Chairman of First Northern Community Bancorp?

John M. Carbahal was elected as Vice Chairman for a one-year term.

How long has John M. Carbahal served on the Board?

John M. Carbahal has served on the Board since July 1996.

What committees does Patrick R. Brady serve on at First Northern Bank?

He serves on the Loan, Compensation, and Profit-Sharing Committees, and is Chairman of the Nominating & Corporate Governance Committee.